Decrease expected to save the average residential ComEd customer
$2-$3 on monthly bill

January 05, 2018 09:14 AM Eastern Standard Time

CHICAGO--(BUSINESS WIRE)--Today ComEd is filing a petition with the Illinois Commerce Commission
(ICC) seeking approval to pass along approximately $200 million in tax
savings to its customers in 2018. If approved by the ICC, the average
ComEd residential customer can expect to see an estimated $2-$3 decrease
on their monthly bill related to the tax reduction.

The Tax Cuts and Jobs Act (TCJA), which was signed into law on Dec. 22,
2017 and became effective on Jan. 1, 2018, decreased the corporate tax
rate from 35 percent to 21 percent, reducing the amount of federal
income tax ComEd will have to pay.

A new rate case process, established by the Illinois General Assembly in
2011 with passage of the Smart Grid law, ensures that cost savings such
as these are passed on to ComEd customers. The ICC is moving
expeditiously to oversee the process so customers can obtain the lower
costs beginning in the first quarter 2018, rather than 2020.

“ComEd is able to promptly provide Illinois customers with the benefits
of the federal tax reduction as a result of the fast action of the
Illinois Commerce Commission and the new rate case design introduced by
the Illinois General Assembly in the 2011 Smart Grid law. The Smart Grid
law has delivered best on record reliability, thousands of jobs and now
the prompt return of tax reduction benefits to Illinois consumers,” said
Anne Pramaggiore, ComEd President and CEO.

Assuming approval by the Commission, ComEd will begin to reflect the
benefits of the tax savings as early as first quarter 2018 through
reduced costs on bills.

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon
Corporation (NYSE: EXC), the nation’s leading competitive energy
provider, with approximately 10 million customers. ComEd provides
service to approximately four million customers across northern
Illinois, or 70 percent of the state’s population.For more
information visit ComEd.com,
and connect with the company on Facebook,
Twitter
and YouTube.